12th Economics Monthly Test - 2 ( Economics of Development and Planning )

St. Britto Hr. Sec. School - Madurai

12th Economics Monthly Test - 2 ( Economics of Development and Planning )-Aug 2020

Time : 2.30 Hours

Part - A

Multiple Choice Question - Answer All Question

Assertion (A): The prime goals of economic planning are stabilization in developed countries and growth in LDCs.
Reason (R): The failure of market mechanism invited state intervention in economic activities through planning.

Both A and R are true and R is the correct explanation of A.
Both A and R are true but R is not the correct explanation of A.
A is true but R is false
A is false but R is true.

Find the meaning of the following statement “If People spend larger propotion of their income and time on entertainment liquor and other illegal activities, productive activities may suffer”

Hayek
Joseph Waker
Lipsey
Thomas Piketty

__________ refers to the technique of planning in which resources are allocated in terms of money.

economic planning
defense planning
financial planning
trade planning

Which among the following is a characteristic of underdevelopment?

Vicious circle of poverty
Rising mass consumption
Growth of Industries
High rate of urbanization

Match the correct codes

1 Low Income Countries i. Gross National Income (GNI) Per Capita.

2 Middle Income Countries ii. GNI Per Capita of $906 And below

3 High Income Countries iii. GNI Per Capita Ranging Between $906 And $11, 115

4 The World bank in its World Development Report classified various countries on the basis of iv. GNI Per Capita of $11,116 Or more

(1) – (i) (2) – (ii) (3) – (iv) (4) – (iii)
(1) – (ii) (2) – (iii) (3) – (iv) (4) – (i)
(1) – (iv) (2) – (iii) (3) – (i) (4) – (ii)
(1) – (i) (2) – (ii) (3) – (iii) (4) – (iv)

Sarvodaya Plan was advocated by__________

Mahatma Gandhi
J.P.Narayan
S.N Agarwal
M.N. Roy

_______planning refers to that planning which seeks to remove economic difficulties.

Comprehensive
Financial
Functional
Decentralized

Find the incorrect match

Sir M. Vishveshwarya (1934): “Planned Economy of India”.
Jawaharlal Nehru (1938): “National Planning Commission
Bombay Plan (1940): ‘People’s Plan”
None of the above

Assertion (A): The deficiency of capital, in turn, leads to low levels of productivity and back to low income.
Reason (R): The low level of saving leads to low investment and to deficiency of capital.

Both A and R are true and R is the correct explanation of A
Both A and R are true but R is not the correct explanation of A.
A is true but R is false.
A is false but R is true

Find the missing stage of the demand side cycle.
Low Income u27f6_?_u27f6Low Investment u27f6 Low Productivity u27f6 Low Income

Low Supply
Low Demand
Low Capital
Low interest

Which of the following is not a problem in comparing developed and developing countries’ GNP?

GNP is understated for developed countries since a number of items included in their national incomes are intermediate goods
The economic contribution of a housewife in a peasant family may not be measured in GNP in a poor country.
GNP is understated for developing countries since many of their labor intensive good have no impact on exchange rate since they are not traded.
GNP is overstated for countries where the price of foreign exchange is less than market clearing price.

What are the income limits of Middle Income Countries as per World Development Report?

GNI Per Capita Ranging Between $906 And $11, 115
GDP Per Capita Ranging Between $906 And $11, 115
Per Capita Ranging $11, 115 and above
GDP Per Capita Ranging Between $906 or below

Under Soviet-type economy-wide central planning,

most resources lack freedom to move to their highest value uses.
resources are free to move to their lowest cost uses.
resources owned by private entities move to efficient use but not those owned publicly
resources are privately owned by capitalists.

Which of the following plan has focused on the agriculture and rural economy

People's Plan
Bombay Plan
Gandhian Plan
Vishveshwarya Plan

Who said, “The better we try to plan, the more planners we need”

Joan Robins
Lewis
Dalton
Amartya K Sen

1	Low Income Countries	i.	Gross National Income (GNI) Per Capita.
2	Middle Income Countries	ii.	GNI Per Capita of $906 And below
3	High Income Countries	iii.	GNI Per Capita Ranging Between $906 And $11, 115
4	The World bank in its World Development Report classified various countries on the basis of	iv.	GNI Per Capita of $11,116 Or more

InstaQB

Institutions

12th Standard English Medium

12th Standard Tamil Medium

11th Standard English Medium

11th Standard Tamil Medium

10th Standard English Medium

9th Standard English Medium

8th Standard English Medium

7th Standard English Medium

Class XII

Class XI

12Th Standard

11Th Standard

10Th Standard

9Th Standard

12th Economics Monthly Test - 2 ( Economics of Development and Planning )

St. Britto Hr. Sec. School - Madurai

12th Economics Monthly Test - 2 ( Economics of Development and Planning )-Aug 2020

Part - A

Multiple Choice Question - Answer All Question

Assertion (A): The prime goals of economic planning are stabilization in developed countries and growth in LDCs. Reason (R): The failure of market mechanism invited state intervention in economic activities through planning.

Find the meaning of the following statement “If People spend larger propotion of their income and time on entertainment liquor and other illegal activities, productive activities may suffer”

__________ refers to the technique of planning in which resources are allocated in terms of money.

Which among the following is a characteristic of underdevelopment?

Sarvodaya Plan was advocated by__________

_______planning refers to that planning which seeks to remove economic difficulties.

Find the incorrect match

Assertion (A): The deficiency of capital, in turn, leads to low levels of productivity and back to low income. Reason (R): The low level of saving leads to low investment and to deficiency of capital.

Find the missing stage of the demand side cycle. Low Income u27f6___________?___________u27f6Low Investment u27f6 Low Productivity u27f6 Low Income

Which of the following is not a problem in comparing developed and developing countries’ GNP?

What are the income limits of Middle Income Countries as per World Development Report?

Under Soviet-type economy-wide central planning,

Which of the following plan has focused on the agriculture and rural economy

Who said, “The better we try to plan, the more planners we need”

Part - B

Generic 2 - Answer All Question

What is the key difference between Financial and Physical Plan?

Distinguish between economic growth and development

Write a short note on NITI Aayog

What is capital accumulation?

Differentiate democratic plan with totalitarian plan.

How does World Development Report classifies countries?

What do you mean by planning?

Define economic development

Part - C

Generic 3 - Answer All Question

Describe the case for planning

What are the functions NITI Aayog

What are the main objectives of planning in India?

List the economic and non-economic determinants of economic development.

Form a chart how supply and demand sides of vicious circle of poverties are happening.

What are the characteristics of under developed countries?

What are the non-economic factors determining development?

Explain NITI Aayog.

Part - D

Generic 5 - Answer All Question

Discuss the economic determinants of economic development.

Explain non-economic factors determining development?

Describe different types of Planning.

Draw the 7 pillars of NITI Aayog

Elucidate various measures of economic development.

Compare and contrast economic growth and economic development.

Comment

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Assertion (A): The prime goals of economic planning are stabilization in developed countries and growth in LDCs.
Reason (R): The failure of market mechanism invited state intervention in economic activities through planning.

Assertion (A): The deficiency of capital, in turn, leads to low levels of productivity and back to low income.
Reason (R): The low level of saving leads to low investment and to deficiency of capital.

Find the missing stage of the demand side cycle.
Low Income u27f6_?_u27f6Low Investment u27f6 Low Productivity u27f6 Low Income